IoT Based Asset Tracking And Monitoring Global Market Analysis, Trends, Growth, Research And Forecast 2033

The iot based asset tracking and monitoring market size has grown rapidly in recent years. It will grow from $4.66 billion in 2023 to $5.17 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to demand for supply chain efficiency, expansion in industrial iot, predictive maintenance implementation, focus on asset security, regulatory changes and standards.

The iot based asset tracking and monitoring market size is expected to see rapid growth in the next few years. It will grow to $8.29 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to sustainability and green initiatives, integration with ai and analytics, remote monitoring demand, retail and inventory management expansion, adoption in smart city initiatives. Major trends in the forecast period include integration of iot devices, demand for supply chain optimization, advancements in sensor technology, rise in industrial iot adoption , focus on fleet management.

Market Overview -
IoT-based asset tracking and monitoring refer to a solution that involves tracking the location and position of assets and equipment using IoT-enabled devices. The primary purpose is to allow remote surveillance and control of an asset's geolocation and movements. It improves asset control efficiency and reduces equipment loss.

Download Free Sample of Report -

https://www.thebusinessresearchcompany.com/sample.aspx?id=8349&type=smp

Surging Demand For Intelligent Solutions Sparks Growth In IOT-Based Asset Tracking And Monitoring Market
The growing demand for advanced monitoring solutions is expected to propel the growth of the IoT-based asset tracking and monitoring market. Smart monitoring solutions and devices are products integrated with intelligence technologies like sensor networks that gather data from the environment. These IoT-based asset tracking and monitoring technologies integrate IoT and automation into consumer devices to make them work intelligently. These technologies track the location and status of assets and equipment, allowing real-time visibility into critical asset locations. Such integrated and intelligent technology demand increases the use of IoT-based asset tracking and monitoring due to the growing importance and concern about safety, security, and convenience. For instance, in an article published by McKinsey & Company, a management consulting company, the global number of IoT-connected devices is expected to increase to 43 billion by 2023, nearly tripling from 2018. Therefore, the growing demand for advanced monitoring solutions will drive the IoT-based asset tracking and monitoring market.

Competitive Landscape -
Major companies operating in the iot based asset tracking and monitoring market report are Quectel Wireless Solution Co. Ltd., Fibocom Wireless Inc., Sierra Wireless Inc., Telit Corporate Group, u-blox AG, Sequans Communications S.A., Nordic Semiconductor ASA, GosuncnWelink Corporation, Laird Connectivity LLC, Thales Group, Semtech Corporation, Mediatek Inc., Analog Devices Inc., HiSilicon Technologies Co. Ltd., Skyworks Solutions Inc., MeiG Smart Technology Co. Ltd., NXP Semiconductors N.V., Infineon Technologies India Private Ltd, STMicroelectronics N.V., Texas Instruments Incorporated, Samsung Electronics Co.Ltd., LG Electronics Inc., Micron Technology Inc., SMART Modular Technologies Inc., Kingston Technology Company Inc., Western Digital Corporation, Seagate Technology plc, Renesas Electronics Corporation, Panasonic Holdings Corporation, Toshiba Corporation

Technological Innovation Takes Center Stage, IOT-Based Asset Tracking And Monitoring's Key Trend
Technological advancement is a key trend gaining popularity in the IoT-based asset tracking and monitoring market. Major companies operating in IoT-based asset tracking and monitoring are focused on providing technologically advanced solutions to strengthen their market position. For instance, in April 2021, Sierra Wireless, a Canada-based communications equipment company, launched Acculink Cargo, a new managed IoT solution for asset tracking. Acculink Cargo allows firms to avoid shipping delays, minimize dwell time, protect against theft, and troubleshoot environmental factors resulting in asset damage.

Browse Full Report @

https://www.thebusinessresearchcompany.com/report/iot-based-asset-tracking-and-monitoring-global-market-report

Key Segments -

The iot based asset tracking and monitoring market covered in this report is segmented -

1) By Connectivity Type: Wi-Fi, Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB, GNSS, Other Connectivity Types
2) By Technology: Device Management, Application Management, Network Management
3) By Application: Livestock Monitoring, Automotive, Railways, Aviation, Manufacturing, Cold Chain Monitoring, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.